Research

At B. Riley, our research process is an interactive one where we perform extensive due diligence on companies until the analyst develops the knowledge base and understanding of the company and the industry to make a recommendation. Our analysts continuously monitor industry developments and communicate with the management, competitors, suppliers and customers of the companies we follow, regularly communicating our findings through Research Updates and daily Morning Notes.

While we do not necessarily publish research on all of the companies we review, the knowledge base and understanding of many of our monitored companies parallels that of our covered companies. We actively cover over 100 companies and monitor an additional 100. Our analysts cover small to mid-cap companies that are under-followed or misunderstood by Wall Street. We believe that the pricing of small cap equities is frequently inefficient, and therefore provides the greatest potential rewards to diligent security analysis.

This Week's Research

  • 04/24/15 Update PII ($146.70, Buy; $174.00 PT): Mixed Print With Positive Motorcycle Momentum Damped by Elevated ORV Channel Inventory; Guidance as Expected; Reiterate…
  • 04/24/15 Update HZO ($24.40, Buy; $27.00 PT): EPS Hamstrung by Elevated Marketing & Healthcare Costs; Demand Recovery & Share Gain Thesis Intact; Trimming Estimates…
  • 04/24/15 Update TYL ($130.30, Neutral; $112.00 PT): Reports Q1 ’15 Results; Maintain Neutral Rating and $112.00 Price Target
  • 04/24/15 Update GIG ($1.56, Buy; $1.90 PT): Earnings Preview: Raised 1Q Outlook; Expect 2Q Guide to be In Line or Better; Reiterate Buy
  • 04/24/15 Update KLAC ($59.85, Neutral; $66.00 PT): Solid Beat, Lower Outlook But New Self Help Program; Tgt To $66.0
  • 04/24/15 Update MXIM ($34.75, Neutral; $31.50 PT): Savings Nice, But Not Quite Offsetting Revenue Reductions; PT To $31.50
  • 04/24/15 Update CIDM ($0.97, Buy; $2.50 PT): Discontinuing Coverage; Continued Capital Raises and Lack of Visible Improvements in Core Distribution Segment Gives…
  • 04/24/15 Morning Note B. Riley & Co. Morning Notes: AKAM, AMZN, ATNY, CHKE, CIDM, GIG, GOOGL, HZO, IPAR, KLAC, MAT, MTSN, MXIM, NTCT, P, TIVO, TYL, UTEK
  • 04/24/15 Update MTSN ($3.85, Buy; $5.00 PT): Margin Resilience Proven In Softer Sls Period; Maintain Buy, PT Is $5.00
  • 04/24/15 Update AMZN ($389.99, Neutral; $428.00 PT): Revenue Beat And Impressive GMs Drive 1Q Upside; Guidance Muted
  • 04/24/15 Update UTEK ($19.65, Neutral; $21.00 PT): Packaging Up A Broader Growth Outlook; Tgt To $21.00, Maintain Neutral
  • 04/24/15 Update MAT ($28.92, Buy; $31.00 PT): Raising Price Target from $29 to $31 on Higher Sales Growth Visibility
  • 04/24/15 Update P ($17.00, Neutral; $15.00 PT): Beat Q, 2Q Guidance Mixed as Marketing Expenses Continue; CRB Negotiations Overhang to Continue; Increasing PT from…
  • 04/24/15 Update GOOGL ($576.00, Buy; $614.00 PT): In Line Q Better than Feared Despite FX Headwinds; Clarity on CPC Improves Story; Rolling over Valuation; PT Up…
  • 04/23/15 Update AKAM (B. Riley & Co. Update: $75.61, Neutral; $68.00 PT): Earnings Preview: Expect Slight Upside in Quarter with Inline Guidance due to FX and Tough…
  • 04/23/15 Update SONS ($7.89, Buy; $13.25 PT): 1H to be Impacted by Technology Transition; Raising EPS while Lowering PT from $14.75 to $13.25; Maintain Buy
  • 04/23/15 Update KFX ($11.02, Neutral; $11.00 PT): Reports Q3 ’15 Results; Maintain Neutral Rating and $11.00 Price Target
  • 04/23/15 Update ANGI ($6.46, Neutral; $7.00 PT): Mixed Report as SP Adds Slow; Reiterates Preannounced Guide; CPA Comps Tough in 2H and Increased Competition Keep…
  • 04/23/15 Update SKX ($75.84, Buy; $92.00 PT): Q1 sales/EPS beat; guided Q2 in line/Q3 upside; momentum continues, despite currency and other headwinds; kids is inflecting;…
  • 04/23/15 Morning Note B. Riley & Co. Morning Notes: AFOP, AMZN, ANGI, ASML, CTG, DMRC, EBAY, KFX, NAME, PBH, PII, PRGX, SIMO, SIX, SKX, SONS, TUP, TXN, TYL
  • 04/23/15 Update AFOP ($18.80, Neutral; $16.00 PT): Solid Results/Guide; Risk Profile Increases as GOOGL is a 45% Customer; Raising Estimates and PT from $13.75 to…
  • 04/23/15 Update EBAY ($56.75, Buy; $66.00 PT): Solid 1Q And Healthy Outlook Despite Near-Term FX Woes
  • 04/23/15 Update SIX ($49.97, Buy; $59.00 PT): Reports Q1 Results In Line With Our Estimates & A Bit Ahead of the Street; Solid Outlook for the Year
  • 04/23/15 Update TXN ($54.36, Buy; $62.00 PT): Disappointment Should Prove Transitory; PT To $62.0, Retain Buy Rating
  • 04/23/15 Update PRGX ($3.99, Buy; $6.00 PT): Q1 ’15 Earnings Preview; Reiterate Buy Rating and $6.00 Price Target
  • 04/23/15 Update CTG ($7.62, Buy; $9.00 PT): Q1 ’15 Earnings Preview; Reiterate Buy Rating and $9.00 Price Target
  • 04/23/15 Update TUP ($67.25, Neutral; $67.00 PT): Cutting Annual EPS Estimates by $0.25 and PT from $70 to $67
  • 04/22/15 Update ASML (B. Riley & Co. Update: $108.20, Neutral; $110.00 PT): Big EUV Order Boosts Ramp Confidence; Hike Ests And PT To $110
  • 04/22/15 Update SIMO ($33.18, Buy; $39.00 PT): Earnings Preview: Embedded Momentum Propelling All-time Highs; Raising Estimates and PT from $34.25 to $39.00
  • 04/22/15 Update AMZN ($392.06, Neutral; $312.00 PT): Earnings Preview: 1Q Results Largely Hinge On GMs; AWS Will Be In Spotlight
  • 04/22/15 Update DMRC ($24.37, Buy; $44.00 PT): Earnings Preview: Disruptive Technology and Key Partnerships to Drive Stable Y-o-Y Revenues in FY ’15 After Years…
  • 04/22/15 Update PII ($138.61, Buy; $174.00 PT): Dealer Survey Indicates Red Hot Slingshot Demand Offset by Sluggish ORV and Scout Delays; Trimming Estimates; Somewhat…
  • 04/22/15 Update DLB ($38.12, Neutral; $42.50 PT): Q2 Results Exceed Expectations; Believe Core Business Remains Stable with New License Initiatives Poised to Accelerate…
  • 04/22/15 Update BRCM ($46.00, Buy; $60.00 PT): Annuity Product Cycles Plus Sharp Margin Leverage; PT To $60.0, Buy
  • 04/22/15 Update CAMP ($16.68, Buy; $32.50 PT): Beats with Record Q4 ’15 (Feb) Results; Raising Estimates Slightly as CAMP “Nurtures the Core,” Growing in Key…
  • 04/22/15 Update GSM ($20.89, Buy; $25.00 PT): Lowering Estimates On Silicon Metal & Alloy Price Weakness & Poor Steel Utilization Rates But Raising PT On Improving…
  • 04/22/15 Morning Note B. Riley & Co. Morning Notes: BRCM, CAMP, DLB, GSM, JAKK, PRGO, SKX, SPCB, TYL, YHOO
  • 04/22/15 Update TYL ($127.24, Neutral; $112.00 PT): Q1 ’15 Earnings Preview; Maintain Neutral Rating and $112.00 Price Target
  • 04/22/15 Update JAKK ($6.78, Neutral; $8.00 PT): Maintaining EPS Estimates, But Trimming 2015E Cash Flow
  • 04/22/15 Update YHOO ($44.49, Buy; $51.00 PT): Slight Miss in Q and Guides In Line; Search and Yahoo!Japan Spin are Key Catalysts, Reducing Estimates and PT Declines…
  • 04/22/15 Update PRGO ($192.82, Buy; $195.00 PT): Mylan’s Offer Rejected; Adjusting Estimates and PT from $189 to $195
  • 04/21/15 Update Household/Personal Care: Weekly Highlights (CLX, COH, COTY, EL, IPAR, JAKK, MAT, NTRI, PBH, PG)
  • 04/21/15 Update GRPN ($7.25, Buy; $9.00 PT): TMON Sale Slightly Below our Estimate; Increases Buyback; PF 1Q15 Guide Impacted by FX, FY Guidance Reiterated; Reducing…
  • 04/21/15 Update EBAY ($56.07, Buy; $66.00 PT): Expecting Little Change To Core Trends; Split Remains In Spotlight
  • 04/21/15 Morning Note B. Riley & Co. Morning Notes: CAMP, EBAY, GOOGL, GRPN, LRCX, P, ROVI, TLYS, TUP, Consumer Products Weekly (CLX, COH, COTY, EL, IPAR, JAKK, MAT, NTRI,…
  • 04/21/15 Update P ($17.34, Neutral; $12.50 PT): Preview: Expect In Line/In Line; Focus on Active Listener Growth and Content Cost Negotiation
  • 04/21/15 Update GOOGL ($544.53, Buy; $604.00 PT): Earnings Preview: Expect In line Q; Expect Additional Downward Estimate Revisions Due to FX
  • 04/21/15 Update LRCX ($77.00, Buy; $101.00 PT): Strong Execution Despite Dynamic End Use Backdrop; Buy, PT $101.0
  • 04/20/15 Update AFOP ($18.13, Neutral; $40.00 $13.75 PT): Earnings Preview: Cautious into 1Q Print; Maintain Neutral
  • 04/20/15 Update SIX ($48.19, Buy; $59.00 PT): Q1 ’15 Earnings Preview; Lowering Estimates Slightly
  • 04/20/15 Update GFN ($9.28, Buy; $14.00 PT): Discontinuing Coverage; Review of FQ2 ’15 Results & FQ3 ’15 Earnings Preview
  • 04/20/15 Update Industry Update: Semi+Semi Cap Week #2 Preview - LRCX, BRCM, TXN, UTEK, MXIM, KLAC And MTSN
  • 04/20/15 Update JAKK ($7.19, Neutral; $8.00 PT): Downgrading from Buy to Neutral
  • 04/19/15 Update SONS ($7.83, Buy; $14.75 PT): Earnings Preview: Previously Reduced 1Q Outlook; Annual Revenue Guide Suggests 2015 to be Back-end Loaded